336 Terms Type Code

Code identifying type of payment terms

Identifier (ID)
Min 2 / Max 2
02End of Month (EOM)
03Fixed Date
04Deferred or Installment
05Discount Not Applicable
08Basic Discount Offered
1210 Days After End of Month (10 EOM)
13Seller to advise buyer
14Previously agreed upon
15Special Proximo
16Prompt Payment Act
17Terms not Applicable
18Fixed Date, Late Payment Penalty Applies
Sales terms specifying a past due date, and a late payment percentage penalty applies to unpaid balances past this due date
Term at which the progress will be liquidated before the final payment is made to the contractor
20Progress Payment
Term at which progress payments are authorized by the terms of the contract
21Fast Pay
Code indicating that an invoice is subject to accelerated payment
22Cash Discount Terms Apply
Contract terms specify that a cash discount is applicable
23Payment Due Upon Receipt of Invoice
A discount allowance given when an invoice is paid before its due date (anticipation = (agreed rate/365) x invoice amount x number of days early)
25Cash Account
26Cash on Advance
27Cash on Arrival
Open account of short duration (usually 10 days)
28Cash per Vendor Request
29Cash by State Law
30Cash with Order
31Cash on Delivery (COD)
32Lease Agreement
33Net Month Following Invoice (MFI)
34Sell by Note
Credit instrument in which debtor promises to pay a definite sum of money on demand or at a definite time in the future, at a stated place
35Supplier Floor Plan
Type of financing used often by auto and furniture dealers where merchandise is owned by financing institution
36Contract Basis
Terms are based on contract with vendor
37Credit Controlled
Terms are monitored by creditor
38Dating Given
In industries where principal sales may occur in one season, suppliers may extend seasonal dating (usually due after main selling season)
39Trade Acceptance
Special from of draft that arises out a merchandise transaction; it is a written acknowledgement of the sale of goods and promise to pay at a definite date and place
CACancellation Option
NCNo Charge
ZZMutually Defined

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